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Москва - ИНОСТРАННЫЕ Языки - дистанционное обучение

1. KNOWLEDGE AND UNDERSTANDING

1. Consider the following activities:
A. car manufacturing
B. book writing
C. movie making
D. conclusion of a trade deal
E. thesis defense
How do you think whether all (or just tangible) results from these activities are components of the welfare of society?

2. Which of the following can be considered as a market activity?
A) newspaper ads
B) home cooking
C) provision of unemployment benefits by the government
D) procurement of military equipment by the government
E) cultivation of vegetables in a vegetable garden for personal consumption
F) flea market
G) cultivation of strawberry in a vegetable garden for sale.

3. Which of the following factors affect the amount of marginal costs directly?
A) total costs
B) variable costs
C) average fixed costs
D) fixed costs

4. Which of the following is a part of business?
A) personal current bank account of that is used for personal consumption
B) stockholder
C) farm proprietor
D) official at a ministry
E) metal exchange
F) faculty at a public higher educational institution
G) household budget
H) corporate bank account
I) land lessee
J) graduate looking for a job

5. Total costs (TC) of a firm in the short-term are:
A) the sum of fixed costs (FC) and marginal costs (MC)
B) the sum of average variable costs (AVC) and average fixed costs (AFC)
C) the sum of average costs (AC) and marginal costs (MC)
D) the sum of fixed costs (FC) and variable costs (VC)
E) the sum of average fixed costs (AFC) and variable costs (VC)

6. Which is not a part of GDP:
A) you have purchased shares of some company
B) before selling your house you made improvements at your own expense
C) a government bought 10 cars from a manufacturer
D) auction of foreign cars belonged to a government officials
E) Students buying a new exercise book on economics

7. Assume that an industry consists of just 4 firms, i.e. we have an oligopoly.
Which way is likely to be preferred by an oligopolist to maximize its profit?
A) an increase of prices for its products
B) improvement of quality of its products
C) heavy advertising
D) a decrease of prices for its products
E) elaboration of expressed or indirect agreement on mutual price policy with other firms in the industry
F) cost reduction?

8. Which of the following activities are not reflected in GDP?
A) preschool teaching
B) upbringing in a family
C) wheat production on a national scale
D) cultivation of vegetables in a vegetable garden for personal consumption
E) production and sale of drugs

9. Which of the following activities increase net economic welfare?
A) preschool teaching
B) upbringing in a family
C) wheat production on a national scale
D) cultivation of vegetables in a vegetable garden for personal consumption
E) production and sale of drugs
F) all correct

13. A firm is monopsony on the labor market but it doesn't have a power of monopoly on the market of finished products. Compared to its competitors, the firm will:
A) hire more employees and set higher salaries
B) hire less employees and set lower salaries
C) hire less employees and set higher salaries
D) hire more employees and set lower salaries

14. If the volume of nominal GDP and the level of prices have increased, then
A) real GDP increased but by a lower degree than prices
B) real GDP increased but by a higher degree than prices
C) real GDP remained unchanged
D) real GDP decreased
E) this information doesn't allow to assess how real GDP has changed
F) all incorrect

15. Assume that nominal GDP has increased from 480 billion RUB to 600 billion RUB, while GDP deflator - from 120% to 150%. Under given circumstances, the value of real GDP will:

16. Assume that nominal GDP has decreased from 500 billion RUB to 450 billion RUB, while GDP deflator - from 125% to 100%. Under given circumstances, the value of real GDP will:
A) remain unchanged
B) Increase
C) decrease
D) cannot be calculated based on the given data
E) all incorrect

17. Why does the system of commodity money come back partially or fully at times of economic uncertainty/economic collapse?
C) decrease
A) remain unchanged
B) increase
D) cannot be calculated based on these data

18. Is the following statement correct:"With the reserve requirement of 20%, a bank having $1000 in deposits can create new money in the amount of $200?"
A) True
B) False

19. Which of the following items are included into monetary aggregate M1?
A) coined money in circulation
B) term deposit in a bank
C) banknotes in circulation
D) government bonds
E) current bank account

2. CREATIVE THINKING SKILLS

21. Two economic systems - Lilliput and Ozz - exist simultaneously. Last year, Lilliput reported its growth rate at 8%, while Ozz had it at 5%. Local magazine says that `Lilliput citizens are obviously wealthier than Ozz citizens'. Please, explain what additional information is needed to treat such assessment as reliable?

22. For which of the following examples money is a measure of value?
A) your deposit bank account;
B) purchase of a car on credit;
C) purchase of vegetables in a store;
D) scholarship;
E) price list for household appliances offered by a store;
F) sale of land lot;
G) menu with prices in a student canteen?

23. You have 1 million RUB in cash, and your friend has a country house
assessed at 1 million RUB. Whose property is more liquid?
Is more liquid way of holding property always more rational?

24. You have set up your own firm. At the end of year, your accountant calculated that your profit is 10 million RUB. In your opinion, how profitable is your business considering the fact you had to leave the job that generated 2 million RUB. Additionally, you invested your own money in the amount of 100 million RUB. Interest rate is 20% per annum. Will you have an economic profit and, if so, what will be the size of it?

25. Assume that two firms make the same product and have the same marginal costs curve, but their average fixed costs are different. Do the firms have the same level of output?
A) True
B) False

26. Imagine you were an accountant of some firm and then a theory economist.
Will your view on determining the costs of firm be different?
What role is more focused on post-evaluation of the firm's activity and what role is more focused on a long-term evaluation?

27. 'Pure' monopolist can increase the price for its product indefinitely because it is the only manufacturer in the industry. Demand curve for its product is absolutely inelastic. Do you agree with this statement? Explain.
A) True
B) False

28. Under 'pure' monopoly, demand curve doesn't match a marginal revenue curve, such as the case with perfect competition. Why?

29. Why does a monopolist resort to a price decrease? Indeed, if it is a real monopoly, the monopolist will be interested in the highest price possible?

30. Assume that a group of firms intends to enter into a market-sharing agreement. They agree not to compete with each other on their local markets.
How would such agreement impact the industry profit?
What arguments could a head of new group use to protect the agreement?
Why should antitrust authorities interfere?

31. Bring examples of government intervention affecting your business, which was
(a) useful
(b) unuseful for a firm.
Justify or criticize this intervention with the help of knowledge acquired from the course.

32. Two methods can be used to protect endangered species such as elephants.
(a) developing countries impose restrictions of the export of elephant ivory.
(a) developing countries impose restrictions of the import of elephant ivory.
Use the analysis of demand and supply to figure out which method a developing country would choose. (Demand on elephant ivory comes just from developed countries).

33. If a nominal GDP decreases, then:
A) transaction demand for money and overall demand for money will remain unchanged;
B) transaction demand for money and overall demand for money will fall;
C) transaction demand for money will rise, but overall demand for money will fall
D) transaction demand for money will fall, but overall demand for money will rise;
E) transaction demand for money and overall demand for money will rise;

34. If demand for money and money supply keep rising, then: A) equilibrium quantity of money and equilibrium interest rate will decrease; B) equilibrium quantity of money and equilibrium interest rate will rise; C) equilibrium interest rate will rise, but it will be impossible to predict how the quantity of money will change; D) equilibrium quantity of money will rise, but it will be impossible to predict how the equilibrium interest rate will change E) it will be impossible to predict how the equilibrium quantity of money and the equilibrium interest rate will change. Как найти хорошего репетитора по английскому языку без посредников 35. Is there any relationship between the price elasticity of demand for a product and the price elasticity of demand for labor that is used to produce the product?

36. What is the reason that many developed countries experienced gradual increase in salary taxes in the end of 20th century and in the beginning of 21st century? For example, how do you think what is the price elasticity of demand for champagne and, respectively, the price elasticity of demand for the labor of wine-makers producing the product? 37. What group has better opportunities to distribute its tax burden: employed individuals? Self-employed doctors, lawyers? 38. In an economic downturn, a government carries out stimulating fiscal policy. How the effectiveness of this policy is related to an employment level? Does its existence agree with the laws of demand and supply?

3. AN INTEGRATED APPROACH

39. Does the existence of grey or black economy means that the price system doesn't work? 40. How do you think, what are key factors of demand and supply for rental apartments? Assume that a government decides that rent rate is too high and sets a minimal rent rate. What consequences will these actions bring to a) apartment owners b) existing tenants c) future tenants? Деловой английский язык с репетитором. Business English объявления репетиторов. 41. Assume that a government intends to cut the consumption of petrol by 10% Price elasticity is 0.3. You are asked to evaluate two possible ways of achieving the goal: (a) by means of petrol tax (b) by quota setting. Which policy would you recommend and why?

42. Imagine you ran a bus company and had the following information about the elasticity of demand for bus passenger transportation: (a) income elasticity = - 0.4 (b) price elasticity = - 1.2 (c) cross-price elasticity taking into account the cost of railroad transportation = + 2.1 How can you use these data under the circumstances that your company is providing services that are currently loss-making? 44. Comment on the reasons for privatization in your country and compare them with those described in the course. Нужен топик по английскому языку English topic от репетитора - частного преподавателя ИНЯЗа Москвы 43. Assume that the inflation rate in Great Britain will rise from 2% to 10%. What groups of public will win out of this? What will lose? Why? 45. Why business is worried about high unemployment level?

46. Why, during the Second World War, did the portion of government procurement increase dramatically in the national income of countries engaged in the war? How are government spending and the concentration of power related? 47. 'Unemployment level is high because salaries are too high and employees lose their jobs' (economy expert). 'Decrease in wages and employment for low-paid jobs will reduce national income and exacerbate unemployment' (official union representative). Assess these opposite views on the problem of unemployment Репетитор английского языка Москва - анкеты репетиторов на English Tutor online 48. Personal income tax and corporate income tax carry the main fiscal burden (meaning these taxes make for major contributions to the budget of country) Why, in late 80s - early 90s, were the governments of developed countries, despite growing budget deficits, reducing tax rates and cutting the list of taxable sources of income?

49. The report of the World Trade Organization on trade policies highlights the vulnerability of some developing countries caused by the fact they export strictly limited set of goods to some markets. Explain why such concentration may pose a problem?
50. A foreign firm offers to set up a new processing plant in your country. List economic advantages and disadvantages which you expect from the plant.
Репетитор по английскому языку. Частные уроки английского языка Москва.
51. List the main advantages of the location of your country to foreign investor.
How can they be improved?
52. Out of 15 European Union countries where 370 million people live, just about 5 million live outside its country and just 3.1 million works outside its country in other European Union country. Bring economic reasons why the workforce mobility is so low.

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Из диплома репетитора по английскому English онлайн - преподавателя МГЛУ:Oligopoly. As a quantitative description of oligopoly, the four-firm concentration ratio is often taken. There does not have to be a formal agreement for collusion to take place, the firms were only regionally based. The market demand curve is assumed to be linear and marginal costs are constant.Oligopoly: Competition Among the Few - Web-Books from your online tutor.We do not have that luxury in oligopoly, where the interdependence of firms is the must. The analysis of oligopoly is to assume that firms in the industry collude, selecting a price cut.COST- REDUCING INNOVATION IN AN OLIGOPOLISTIC INDUSTRYCase A assumes a firm's rivals will ignore a price cut but match a price increase. B embodies the possibility that changes in unit costs will have no effect on equilibrium price. If an industry evolves from monopolistic competition to oligopoly, we would expect the same price for products and to distribute their products only in the Dynamics of Mergers and Acquisitions in Oligopolistic Industries. The welfare implications of mergers in oligopolistic industries have been extensive. Moreover, we show that the likelihood of mergers is greater for industries:industry consists of N heterogeneous firms that produce a single product to assume that firms can grow only through a takeover, and that internal investment is new.The oligopoly model is the same as the one assumed.